How Blockchain and Crypto Are Poised to Shift the Balance of Power

Blockchain’s potential to disrupt the financial landscape is evident. Even at this early point in the technology’s development, established institutions — including banks and governments — have been quick to note this potential for disruption, and equally quick to attempt to limit its impact. 

However, despite the obvious utility, and many current and fascinating applications of blockchain — from improving supply chain traceability to collecting adorable digital cats — the true potential of this incredible technology is often overlooked: the ability to upend existing power structures by undermining centralization. Ultimately, blockchain and cryptocurrencies look increasingly likely to bring about a shift in the balance and locus of power, moving it away from centralized entities like those aforementioned banks and governments and toward the people, fundamentally changing who wields power and what is done with it.

The current centralized financial system functions in a…